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sunny (hardware)     18 November 2018

Transfer of property from husband to wife in chennai

Dear Sir/Mam,
 

My father has self accured flat in chennai .Due to medical reasons he want to transfer the property to my mother (Wife).Both are senior citizens

What are the best options for transfering the property with lowest cost in chennai.

I heard the below mentioned options for transfering the property

1.Gift deed and settlment deed are same. There is no difference in the cost. Please clarifiy on this 

2.For Transfer of Property dose GOVT will help in providing any  benefits.

3. Any other suggestions are welcome

With Regards

Sunny

 



Learning

 6 Replies

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     18 November 2018

Your father may write a Will bequeathing the house to your mother and get the Will registered. The property remains in your father's name during his life time. Afterwards only your mother inherits it and property gets transferred in her name. Registering a Will endure hassle free transfer of property. This is the cheapest way. But, if the property is to be registered in the name of your Mother now itself, the cost escalates manifold any which way viz. Gift or Settlement.

sunny (hardware)     18 November 2018

Dear Sir,
I spoke to registrar he is saying there is NO GIFT deed as such only Settlement is best. Request you to advice me what need to be done. I though Gift deed will be less cost but registrar is saying both are same cost go for settlement.

With Regards

P.Sanjay Sarma

K.K.Ganguly (Advocate)     18 November 2018

1. It is strange to understand that the Registrar told you 'there is no gift deed as such'.

 

2. Settlement Deed is executed when a properrty (or the claim for it between two claimants)  is settled  and in the instant case, your mother is in no way a claimant of your father's said property.

 

3. So, a gift deed registered by your father in favour of your mother will be appropriate under the given circumstances.

Shanmugam .C   18 November 2018

My view is same of Mr K K Ganguly Advocate .

sunny (hardware)     18 November 2018

Hi ALL,

Thank you for your valuable suggetion.

What is the procedure and process for the GIFT deed charges,

 

With Regards

Sunny

 

sunny (hardware)     18 November 2018

Hi ALL,

Thank you for your valuable suggetion.

What is the procedure and process for the GIFT deed charges,

 

With Regards

Sunny

 


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